Finance - The Purbottar

31 Aug

Piramal Finance Bolsters Retail Growth and Capital Base with Successful ₹2,100 Crore QIP

nanika EditorFinance

Piramal Finance has successfully raised ₹2,100 crore through a qualified institutional placement (QIP), pushing its total fundraise to ₹3,850 crore as the non-banking financial company (NBFC) moves to strengthen its capital base and accelerate retail-led growth. The QIP saw strong participation from a diverse pool of institutional investors, including prominent domestic mutual funds such as ICICI Prudential, Nippon India, Kotak, Quant, Axis, Motilal Oswal, Tata, Franklin Templeton, and Aditya Birla Sun Life, alongside global asset managers BlackRock, Goldman Sachs Asset Management, and Eastspring Investments. Emphasizing its gratitude for the strong market trust, Piramal Finance stated that the fresh capital injection…

24 Feb

RBI Sees ‘No Systemic Issue’ After ₹590-Crore Fraud at IDFC FIRST Bank

nanika EditorFinance

A day after IDFC FIRST Bank disclosed a ₹590-crore fraud involving accounts linked to the Haryana government, Sanjay Malhotra, Governor of the Reserve Bank of India (RBI), said the central bank is closely monitoring the situation and there is “no systemic issue” affecting the broader banking system.Speaking to reporters after the customary post-Budget meeting of the RBI’s central board of directors, the governor stated that while the central bank does not comment on individual banks or regulated entities, it is keeping watch on developments. He emphasized that the incident does not pose any risk to the stability of the financial…

12 Feb

RBI Clears ICICI AMC to Raise Stake in HDFC Bank Up to 9.95%

editorFinance

The Reserve Bank of India (RBI) has granted approval to ICICI Prudential Asset Management Company (ICICI AMC) and other ICICI Group entities to increase their stake in HDFC Bank up to 9.95%, according to a regulatory filing by HDFC Bank on Wednesday.As of February 6, ICICI Group entities collectively held a 4.07% stake in HDFC Bank, India’s largest bank by market capitalization, currently valued at around $157 billion. The approval follows an application submitted by ICICI AMC and will remain valid for a period of one year.Under the RBI’s conditions, ICICI and its group entities must ensure that their combined…

07 Feb

Kotak Mahindra Bank Denies Submitting Financial Bid for IDBI Bank Stake

editorFinance

Kotak Mahindra Bank on Saturday clarified that it has not submitted any financial bid in the ongoing strategic disinvestment process of IDBI Bank Ltd, responding to recent media reports that led to a sharp movement in its share price.In a regulatory filing, the private sector lender said the clarification was issued under Regulation 30(11) of the SEBI Listing Regulations, 2015, following news reports published on February 6, 2026. The bank noted that the disclosure was made after observing material movement in its stock price on the same day.Kotak Mahindra Bank has not submitted a financial bid as part of the…

06 Feb

RBI Holds Repo Rate at 5.25%, Maintains Neutral Policy Stance

editorFinance

The Reserve Bank of India on Friday kept the repo rate unchanged at 5.25% after the conclusion of its three-day Monetary Policy Committee (MPC) meeting held from February 4 to 6. The committee, led by Governor Sanjay Malhotra, also decided to retain a neutral policy stance, signaling a cautious approach amid evolving economic conditions.The decision comes at a time when growth expectations have strengthened following the Union Budget’s emphasis on higher government spending and renewed optimism around India–US trade ties after US President Donald Trump announced a trade deal with New Delhi. These developments have supported market sentiment and raised…

15 Dec

US Federal Reserve Cuts Key Rates for Third Consecutive Time

Mohini BarmanFinance

The US Federal Reserve announced it has reduced its benchmark interest rates for the third consecutive time in a bid to stimulate the US economy. The global financial reaction was swift, with the Indian Rupee (INR) immediately dipping to a record low of ₹90.42 against the US Dollar (USD) on the news. This movement highlights the significant impact of US monetary policy decisions on international currency markets, particularly in emerging economies.

10 Oct

Tata Capital IPO allotment status finalised!

Purbalee DuttaFinance

The highly anticipated initial public offering (IPO) of Tata Capital Ltd, a Tata Sons subsidiary, attracted fair interest from investors. The subscription window was open from October 6 to 8, and the IPO allotment was finalized on October 9. Tata Capital shares are set to list on October 13 on both the BSE and NSE. With the allotment completed, equity shares will be credited to successful bidders’ demat accounts, while refunds for unsuccessful applicants will be processed on October 10. Investors can check the allotment status via the BSE, NSE, or the IPO registrar’s website—MUFG Intime India Pvt. Ltd. As…

16 Aug

Mahindra BE 6 Batman Edition Looks All Sinister

Purbalee DuttaFinance

Mahindra & Mahindra has teamed up with Warner Bros., the studio behind DC Comics films, to unveil a special edition of its first electric SUV—the BE 6 Dark (Batman Edition). This limited-edition model stands out from other “dark” variants with design elements inspired by the iconic Batman films and comics. Priced at ₹27.79 lakh, the BE 6 Batman Edition is limited to just 300 units. Bookings open on August 23, with deliveries beginning September 20 to mark Batman Day. The SUV features a satin black exterior, Batman-themed decals, and Dark Knight badging on various parts including the fender, bumper, and…

13 Aug

BSE SME Stock Leo Dryfruits Rises 45% Against IPO Price

Purbalee DuttaFinance

Shares of BSE SME-listed Leo Dryfruits have jumped 45% since their IPO, currently trading at ₹75.40 compared to the issue price of ₹52. Listed in January 2025, the stock has steadily attracted investor interest on the back of strong business progress and market performance. The ₹25.12 crore IPO involved the issue of 48.30 lakh fresh equity shares and saw an enthusiastic response from all investor categories, making it a successful debut on the SME platform. IPO Details and Stock Movement:Held between January 1–3, 2025, with a price range of ₹51–52, the IPO was subscribed a massive 181.77 times overall. Non-institutional…

04 Aug

Axis Bank Devalues Dining Delights With EazyDiner: New Terms Effective From August 1

Purbalee DuttaFinance

One of the often-overlooked perks of Axis Bank credit cards is the exclusive discounts through EazyDiner, available across all card variants. While discount rates vary from basic to premium cards, there’s something for every cardholder. Premium cards traditionally offered extra benefits like enhanced birthday discounts, Postcard Hotels vouchers, and complimentary EazyDiner memberships. Recently, Axis Bank revamped its Dining Delights program with EazyDiner, removing some discontinued cards and simplifying the structure. Notably, the Axis Magnus Credit Card has lost its premium status. It no longer qualifies for the high-net-worth individual (HNI) discount tier or birthday offers. Similarly, the Axis Bank Miles…